Hey folks, XVG is on a roll again so let's look at the chart. Since its initial pop from the bottom, the price action currently finds itself in a broadening wedge (or megaphone pattern) and after its most recent jump has formed a continuation pattern outlined in light blue. It's a bit oversold on the 30min chart, so it may take some additional time to consolidate before taking off. Otherwise it looks good for a breakout. But wait for a confirmed breakout from the pattern. You can see we have had 3 separate fakeouts where the price action hit the top boundary of the pennant and retreated. We also want to wait for a breakout because pennants can also break to the downside. If this were to happen, the price will likely find resistance along the bottom boundary of the wedge and nothing is worse than buying and watching the price drop. Watch for the breakout.